The issuer of the USDC stablecoin, Circle, released a response on Feb. 17 to the Central Bank of Ireland’s discussion paper on consumer protection, which called for industry insight into improving consumer-focused financial products.

Justin Sun Withdrew 80M $USDC From Circle Just Now

There were unconfirmed speculations that the SEC had issued a Wells notice to Circle, implying that the regulator intends to initiate enforcement actions against the firm.

Circle, which issues the USDC stablecoin, has denied that it has received a Wells notice. That denial was recorded in a tweet by CSO Dante Disparte on Feb. 14.

Binance Chief Executive Officer Changpeng Zhao, fondly called CZ in the crypto space, has asserted that he does not believe a recent Bloomberg report that claims that Circle complained to regulators about Binance.

Circle filed a complaint with the New York State Department of Financial Services last year over rival Binance's "mismanagement of reserves" for its own tokens, Bloomberg News reported. 

According to Circle, from January 26 to February 2, Circle issued a total of USD 2.2 billion in USDC, redeemed USD 3 billion in USDC, and the circulation decreased by about USD 900 million.

Circle has created a protocol that replaces cross-chain bridges — CCTP. The launch is planned in the middle of the first quarter of 2023 on Ethereum and Avalanche.

Circle, the company behind the USDC stablecoin, has blamed the US Securities and Exchange Commission (SEC) for its failed plans to go public.According to a new report by FT, the regulatory agency failed to sign off on the $9 billion deal.

USD Coin (USDC) founder Circle attended the World Economic Forum (WEF) to explain “why USDC is a dollar with super powers.”

Circle – the issuer of the second largest stablecoin by market cap, USDC – is preparing to launch a permissionless protocol for letting users transfer their stablecoins between blockchains. 

Jeremy Allaire @jerallaire, co-founder & CEO of Circle, wrote on Twitter: "Circle's Cross-Chain Transfer Protocol (CCTP) is getting closer to launch. Such an important piece of infrastructure that can help foster more scalable, efficient, secure and user friendly apps built on USDC."

Jeremy Allaire, CEO of peer-to-peer payment company Circle, is expecting the U.S. Congress to concentrate on stablecoin regulation this year for a simple reason.

Every day, about $2.2 trillion in foreign-exchange (FX) transactions carry a risk that the yet-to-be settled side of an agreement won’t meet obligations. But a new paper from Circle Internet Financial and decentralized exchange Uniswap Labs finds that a distributed ledger could solve that problem with simultaneous settlement.

According to a disclosure page published by BlackRock, Circle has invested 30% of its USD reserves in the US Treasury via Circle Reserve Fund, which is managed by BlackRock. The value of the fund invested comes to approximately $13 billion. The aim is to boost transparency amid the FTX collapse.

According to Circle’s most recent reserve report, around 65% of all USD Coin (USDC) reserves are held as US treasury bills. Circle held $43.4 billion in USDC reserves to back 43.23 billion USDC in circulation as of Nov. 30, 2022. Of these reserves, $12.79 billion lay in the Circle Reserve Fund, a registered government money market fund wholly owned by Circle and managed by BlackRock. The fund’s holdings included 12 US treasury bills as of Nov. 30. Circle created its Reserve Fund on Nov. 3, and in less than a month, it transferred around 29.5% of the stablecoin reserves to the fund. Since then, Blackrock’s disclosures information reveals that “USDC reserves invested in the Circle Reserve Fund have risen to around $28.6 billion, or 65%,”. (cryptoslate)

According to Circle, from December 29th to January 5th, Circle issued a total of USD 3.6 billion USDC, redeemed USD 4.2 billion USDC, and circulation dropped by USD 600 million. As of January 1, the total circulation of USDC was 43.7 billion US dollars, and the reserve was 43.9 billion US dollars, including 5.8 billion US dollars in cash and 38.1 billion US dollars in short-duration U.S. treasuries.

Circle's chief strategy officer and head of global policy, Dante Disparte, believes that the turmoil in the crypto sector over the last year could mark the handover of crypto technology to more durable companies and "steadier hands" in 2023. In a Jan. 2 post for The World Economic Forum (WEF), Disparte highlighted the growing use of crypto in the financial services sector and opined that the ongoing bear market and exchange collapses may ultimately be a boon for the industry, paving the way for "responsible, always-on internet finance." (Cointelegraph)

From December 15th to December 22nd, Circle issued a total of 4.6 billion USDC, redeemed 5.6 billion USDC, and the circulation decreased by 900 million USD.

The interchain communication protocol, Axelar, has announced a $60M funding program to drive innovation for web3 startups building during the bear market.